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EURJPY remains neutral above 38.2% Fibonacci level

EURJPY has struggled above the 38.2% Fibonacci retracement level of the downleg from 137.50 to 124.60, around 129.50 and below the 130.30 resistance level since Tuesday’s trading session. The sharp buying interest, especially in the previous week, has shifted the near-term bias from negative to positive as the price is in the process for a bullish correction.
The RSI is currently moving above the threshold of 50, while the MACD is flattening in positive territory, both hinting that the next move in prices could be sideways rather than on the upside. However, the stochastics indicate that a rebound is not far off since the oscillators ... (full story)